PortfoliosLab logoPortfoliosLab logo

Documentation

Upgrade your plan
VXM-B.TO vs. VFV.TO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

VXM-B.TO vs. VFV.TO

Last updated Jun 4, 2026

VXM-B.TO (CI Morningstar International Value Index ETF (Unhedged)) and VFV.TO (Vanguard S&P 500 Index ETF) are both exchange-traded funds - VXM-B.TO is a Foreign Small & Mid Cap Equities fund tracking the Morningstar Developed Markets ex-North America Target Value Index, while VFV.TO is a S&P 500 fund tracking the S&P 500 Index. Both are passively managed. Over the past 10 years, VXM-B.TO returned 11.90%/yr vs 16.04%/yr for VFV.TO. At a 0.40 correlation, their price movements are largely independent. VXM-B.TO charges 0.66%/yr vs 0.09%/yr for VFV.TO.

Performance

VXM-B.TO vs. VFV.TO - Performance Comparison

The chart below illustrates the hypothetical performance of a CA$10,000 investment in CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO) and Vanguard S&P 500 Index ETF (VFV.TO). The values are adjusted to include any dividend payments, if applicable.

Loading charts...

Returns By Period

In the year-to-date period, VXM-B.TO achieves a 10.02% return, which is significantly lower than VFV.TO's 12.30% return. Over the past 10 years, VXM-B.TO has underperformed VFV.TO with an annualized return of 11.90%, while VFV.TO has yielded a comparatively higher 16.04% annualized return.

VXM-B.TO

1D
-0.14%
1M
3.74%
YTD
10.02%
6M
12.18%
1Y
33.73%
3Y*
28.33%
5Y*
17.51%
10Y*
11.90%

VFV.TO

1D
-0.18%
1M
7.30%
YTD
12.30%
6M
10.47%
1Y
29.48%
3Y*
23.57%
5Y*
16.84%
10Y*
16.04%
*Multi-year figures are annualized to reflect compound growth (CAGR)

VXM-B.TO vs. VFV.TO - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
VXM-B.TO
CI Morningstar International Value Index ETF (Unhedged)		10.02%46.74%18.25%18.98%-2.49%9.58%-10.23%9.77%-6.79%22.82%
VFV.TO
Vanguard S&P 500 Index ETF		12.30%12.18%35.23%23.23%-12.58%27.51%15.62%25.14%2.94%13.67%

Correlation

The correlation between VXM-B.TO and VFV.TO is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.48

Correlation (3Y)
Calculated over the trailing 3-year period

0.31

Correlation (5Y)
Calculated over the trailing 5-year period

0.27

Correlation (10Y)
Calculated over the trailing 10-year period

0.37

Correlation (All Time)
Calculated using the full available price history since Nov 21, 2014

0.40

The correlation between VXM-B.TO and VFV.TO shifts across timeframes, from 0.27 (5 years) to 0.48 (1 year), reflecting how their relationship changes across market environments.

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

CI Morningstar International Value Index ETF (Unhedged)

Vanguard S&P 500 Index ETF

Often compared with VXM-B.TO:
VXM-B.TO vs. CMNY.TOVXM-B.TO vs. CGXF.TOVXM-B.TO vs. CEQT.TOVXM-B.TO vs. CCOM.TOVXM-B.TO vs. NXF.TOVXM-B.TO vs. CIC.TOVXM-B.TO vs. CBCX.TO
Often compared with VFV.TO:
VFV.TO vs. XEQT.TOVFV.TO vs. VEQT.TOVFV.TO vs. VOOVFV.TO vs. QQC.TOVFV.TO vs. VSP.TOVFV.TO vs. VCN.TOVFV.TO vs. XQQ.TO

Return for Risk

VXM-B.TO vs. VFV.TO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
VXM-B.TO
VXM-B.TO Risk / Return Rank: 7373
Overall Rank
VXM-B.TO Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
VXM-B.TO Sortino Ratio Rank: 7575
Sortino Ratio Rank
VXM-B.TO Omega Ratio Rank: 7777
Omega Ratio Rank
VXM-B.TO Calmar Ratio Rank: 6868
Calmar Ratio Rank
VXM-B.TO Martin Ratio Rank: 6868
Martin Ratio Rank
VFV.TO
VFV.TO Risk / Return Rank: 7474
Overall Rank
VFV.TO Sharpe Ratio Rank: 7878
Sharpe Ratio Rank
VFV.TO Sortino Ratio Rank: 7777
Sortino Ratio Rank
VFV.TO Omega Ratio Rank: 7878
Omega Ratio Rank
VFV.TO Calmar Ratio Rank: 6868
Calmar Ratio Rank
VFV.TO Martin Ratio Rank: 6969
Martin Ratio Rank
The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VXM-B.TO vs. VFV.TO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO) and Vanguard S&P 500 Index ETF (VFV.TO). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

VXM-B.TOVFV.TODifference
Sharpe ratioReturn per unit of total volatility
2.54
2.59

-0.05

Sortino ratioReturn per unit of downside risk
3.37
3.53

-0.16

Omega ratioGain probability vs. loss probability

1.46

1.48

-0.02

Calmar ratioReturn relative to maximum drawdown

3.36

3.44

-0.08

Martin ratioReturn relative to average drawdown

12.41

13.10

-0.69

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VXM-B.TO vs. VFV.TO - Sharpe Ratio Comparison

The current VXM-B.TO Sharpe Ratio is 2.54, which is comparable to the VFV.TO Sharpe Ratio of 2.59. The chart below compares the historical Sharpe Ratios of VXM-B.TO and VFV.TO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Loading charts...

Sharpe Ratios by Period

VXM-B.TOVFV.TODifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.54

2.59

-0.05

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

1.74

1.14

+0.61

Sharpe Ratio (10Y)

Calculated over the trailing 10-year period

0.95

0.97

-0.02

Sharpe Ratio (All Time)

Calculated using the full available price history

0.87

1.14

-0.27

Drawdowns

VXM-B.TO vs. VFV.TO - Drawdown Comparison

The maximum VXM-B.TO drawdown since its inception was -35.51%, which is greater than VFV.TO's maximum drawdown of -27.43%. Use the drawdown chart below to compare losses from any high point for VXM-B.TO and VFV.TO.

Loading charts...

Drawdown Indicators

VXM-B.TOVFV.TODifference

Max Drawdown

Largest peak-to-trough decline

-35.51%

-27.43%

-8.08%

Max Drawdown (1Y)

Largest decline over 1 year

-10.33%

-8.62%

-1.71%

Max Drawdown (3Y)

Largest decline over 3 years

-13.31%

-19.05%

+5.74%

Max Drawdown (5Y)

Largest decline over 5 years

-22.12%

-22.19%

+0.07%

Max Drawdown (10Y)

Largest decline over 10 years

-35.51%

-27.43%

-8.08%

Current Drawdown

Current decline from peak

-2.87%

-0.18%

-2.69%

Average Drawdown

Average peak-to-trough decline

-5.94%

-3.35%

-2.59%

Ulcer Index

Depth and duration of drawdowns from previous peaks

2.77%

2.26%

+0.51%

Volatility

VXM-B.TO vs. VFV.TO - Volatility Comparison

CI Morningstar International Value Index ETF (Unhedged) (VXM-B.TO) has a higher volatility of 3.79% compared to Vanguard S&P 500 Index ETF (VFV.TO) at 3.05%. This indicates that VXM-B.TO's price experiences larger fluctuations and is considered to be riskier than VFV.TO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Loading charts...

Volatility by Period

VXM-B.TOVFV.TODifference

Volatility (1M)

Calculated over the trailing 1-month period

3.79%

3.05%

+0.74%

Volatility (6M)

Calculated over the trailing 6-month period

10.48%

8.55%

+1.93%

Volatility (1Y)

Calculated over the trailing 1-year period

13.68%

11.46%

+2.22%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

18.04%

14.91%

+3.13%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

18.91%

16.57%

+2.34%

VXM-B.TO vs. VFV.TO - Expense Ratio Comparison

VXM-B.TO has a 0.66% expense ratio, which is higher than VFV.TO's 0.09% expense ratio.

Dividends

VXM-B.TO vs. VFV.TO - Dividend Comparison

VXM-B.TO's dividend yield for the trailing twelve months is around 2.33%, more than VFV.TO's 0.83% yield.

PositionTTM20252024202320222021202020192018201720162015
VFV.TO
Vanguard S&P 500 Index ETF		0.83%0.92%0.99%1.20%1.31%1.06%1.33%1.55%1.68%1.50%1.66%1.63%
VXM-B.TO
CI Morningstar International Value Index ETF (Unhedged)		2.33%2.21%3.97%3.66%3.67%2.05%2.18%1.59%6.77%1.52%1.92%2.16%

Frequently Asked Questions

VXM-B.TO and VFV.TO have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

On fees, VFV.TO is cheaper at 0.09% per year. The better choice depends on whether you care most about return, fees, risk, or income.

VFV.TO is cheaper with a 0.09% expense ratio, compared with 0.66% for VXM-B.TO.

VXM-B.TO is categorized as Foreign Small & Mid Cap Equities, while VFV.TO is S&P 500. VXM-B.TO tracks Morningstar Developed Markets ex-North America Target Value Index, while VFV.TO tracks S&P 500 Index. They also come from different issuers: CI and Vanguard. Their fees differ too: 0.66% for VXM-B.TO and 0.09% for VFV.TO.

Portfolio Optimizer

Find the right allocation for VXM-B.TO and VFV.TO

Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.

Open Portfolio Optimizer